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The Myro price jumped 57% in the last 24 hours to trade at $0.2918 as of 4:15 a.m. EST on trading volume that skyrocketed 134% to $269.5 million.
This latest price surge comes as another boost in a week-long rally that allowed the MYRO token to skyrocket by over 278%, hitting an ATH of $0.3002.
For now, the token is struggling to breach the resistance at $0.30, although its price remains right under it as the bulls continue to push against this level.
Myro Price Prognosis
Myro has seen a massive price increase in the last week, going from $0.077 to $0.30 during this time. However, as you can see on the chart below, its sharpest surge took place in the last 24 hours.
The big question now is where will the price go from here? Unfortunately, the situation is not black and white, and there is no definitive answer. This is why those in the trading community use technical indicators that might suggest what will happen next.
The token’s Bollinger bands have seen massive widening already, and for the time being, they seem to be getting wider and wider still. This is a very bullish sign, and so is the token’s constantly growing daily volume. Both of these suggest that the bulls are still in charge and that they are continuing to buy.
On the other hand, there is the token’s Relative Strength Index (RSI), which reveals that MYRO recently entered an overbought zone. RSI reached the level of 78.17 before suddenly dropping, which was mirrored by the token’s price, as well, the RSI score sank to 60.33, before rising again.
At this point, it is still in the overbought territory, which suggests that some of the buyers decided to take profit once the price reached the $0.30 mark for the first time. This caused a slight correction, only for the bulls to drive it back up, likely because many moved in to buy the dip.
As a result, the price climbed back up to $0.30. As for the RSI value, it currently sits at 64.87, suggesting that there is still some room left to grow before traders take a profit again.
For the time being, the token is seemingly unable to breach the resistance at $0.30, although this could change in hours to come. Alternatively, if the price gets rejected, it has a strong support at $0.25, and another one at $0.15 to keep it from sinking too deep.
It is, however, important to note that the current rally is led by Bitcoin, and the oldest and largest crypto continues to dictate market behavior. It is likely that Myro would continue to follow Bitcoin’s lead, just like the rest of the altcoin market.
Promising Alternatives to Myro
While Myro definitely proved itself to be an excellent opportunity, it is far from being the only token worth buying in the crypto sector. In fact, many believe that new Solana meme coin Smog (SMOG) could be an even better opportunity.
Smog is a meme coin centered around dragons that’s surged 17% in the past 24 hours. Given that this is the Year of the Dragon for Chinese, it is very likely that this will be the Year of Smog, as well.
Apart from its branding, SMOG also attracted the community’s attention due to its massive upcoming airdrop, which it describes as “the Greatest Airdrop in History.” The airdrop will grant SMOG tokens to those who buy and hold SMOG.
You can also earn additional airdrop points by participating in quests that are managed by Zealy. The number of points earned will determine how much SMOG is received from the airdrop.
To top it all off, SMOG tokens are currently available for a 10% discount. Potential buyers should not wait too long because the team says that special offer will soon end.
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
If you decide to do buy, know that you can purchase SMOG in exchange for ETH, USDT, or with your credit or debit card. Apart from great growth potential and the chance to join the airdrop, buying SMOG is also beneficial for its rewards, as the project grants 42% APY for those who stake the tokens.
Visit SMOG here.
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